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Coding Challenge - Position Size Calculator

  • #1
  • First Post: Sep 14, 2017 8:54am Sep 14, 2017 8:54am
Hi everyone. I have an open challenge for all you expert coders out there. Anyone who would like to try I would greatly appreciate it. Here's the story. I have a trading calculator that I built and it is based in Excel. I have attached the calculator here. It is designed to calculate position size based on the position of entry and stop loss. It is designed to also tell you the potential RR of the trade and calculate the potential profit or loss in dollars. The inputs required are account value, desired risk in percentage, entry price, exit price, pip value, and if doing a breakout trade, the high and low of the range in order to project a price target. I've highlighted the input fields in yellow.

My challenge/question is can this be implmented as an indicator into MT4 so that Excel would not need to be used for calculating this values?

Thanks in advance
Attached File(s)
File Type: xlsx New Calc1.xlsx   10 KB | 1,524 downloads
  • #2
  • Sep 14, 2017 8:58am Sep 14, 2017 8:58am
Quoting Madinvestor
My challenge/question is can this be implmented as an indicator into MT4 so that Excel would not need to be used for calculating this values? Thanks in advance {file}
Yes it can be an indicator applied on any chart.
MT4/MT5 EAs/Indicators/Alerts coder
  • #3
  • Sep 14, 2017 9:00am Sep 14, 2017 9:00am
Quoting FerruFx
{quote} Yes it can be an indicator applied on any chart.
Awesome! Is this something that you would be up to coding?
  • #4
  • Edited 8:41pm Sep 14, 2017 1:00pm | Edited 8:41pm
Quoting Madinvestor
{quote} Awesome! Is this something that you would be up to coding?
I coded this up a while ago, but I think it will exceed your expectations.
  • #5
  • Sep 14, 2017 7:24pm Sep 14, 2017 7:24pm
Quoting Nicholishen
{quote} I coded this up a while ago, but I think it will exceed your expectations. {file}
Thanks my friend! It sounds like a really great indicator, but unfortunately when I load it up I don't see anything...maybe I am doing something wrong?
  • #6
  • Sep 14, 2017 8:41pm Sep 14, 2017 8:41pm
Quoting Madinvestor
{quote} Thanks my friend! It sounds like a really great indicator, but unfortunately when I load it up I don't see anything...maybe I am doing something wrong?
Yep... somehow it compiled without the bmp images. This should do the trick.

*click for gif

Attached Image (click to enlarge)
Click to Enlarge Name: ezgif.com-video-to-gif.gif Size: 1.2 MB
Attached File(s)
File Type: ex4 3ClickPositionCalc_Indicator.ex4   256 KB | 1,702 downloads
  • #7
  • Sep 15, 2017 5:08am Sep 15, 2017 5:08am
Quoting Nicholishen
{quote} Yep... somehow it compiled without the bmp images. This should do the trick. *click for gif {image} {file}
Awesome! I love it! Thanks a lot! It works perfectly now! This is exactly what I was look for and to your point, definitely exceeds my expectations!
  • #8
  • Sep 17, 2017 11:40pm Sep 17, 2017 11:40pm
Quoting Nicholishen
{quote} Yep... somehow it compiled without the bmp images. This should do the trick. *click for gif {image} {file}
I was looking for such an indicator from a long time.
Thank you for sharing it.
Practice makes a person perfect
  • #9
  • Sep 18, 2017 12:26am Sep 18, 2017 12:26am
Quoting Nicholishen
{quote} Yep... somehow it compiled without the bmp images. This should do the trick. *click for gif {image} {file}
This is another challenging MM calculator.

I hope you are able to find it feasible to code for MT4.
Attached File(s)
File Type: pdf ST-Ultimate-Traders-Guide-to-Money-Management-1 (1).pdf   322 KB | 1,828 downloads
Practice makes a person perfect
  • #10
  • Sep 18, 2017 12:37pm Sep 18, 2017 12:37pm
Quoting Nicholishen
{quote} Yep... somehow it compiled without the bmp images. This should do the trick. *click for gif {image} {file}
This draws lines for Buy only trades.
How to draw lines for Sell only trades?
Thank you.
Practice makes a person perfect
  • #11
  • Sep 18, 2017 12:40pm Sep 18, 2017 12:40pm
Quoting simnz
{quote} This draws lines for Buy only trades. How to draw lines for Sell only trades? Thank you.
Read the instructions on the loading window. It does both.
  • #12
  • Sep 21, 2017 6:56am Sep 21, 2017 6:56am
Quoting Nicholishen
{quote} Read the instructions on the loading window. It does both.
Yes, and does this very well.

I hope this isn't asking too much, but maybe when you get some time, is there a way that you can incorporate a button that automatically pulls the values (order size and price) from the calculator into the new order window when you want to execute a trade based on the calculated levels? This would eliminate the need to manually type in the values before executing the trade and save some time. Particularly if day trading. Please let me know if this is possible. Thanks!
  • #13
  • Sep 21, 2017 1:28pm Sep 21, 2017 1:28pm
Quoting Nicholishen
{quote} Read the instructions on the loading window. It does both.
Great indicator but i am unable to drag the lines to the exact levels where i'd like them to be. It's impossible to drag the lines once they have been positioned. Can you help me out please?
  • #14
  • Sep 21, 2017 2:01pm Sep 21, 2017 2:01pm
Quoting jakubdonovan
{quote} Great indicator but i am unable to drag the lines to the exact levels where i'd like them to be. It's impossible to drag the lines once they have been positioned. Can you help me out please?
Double click the line so that it is selected and then drag to new location. Be careful to only double click because triple clicking will result in a reset (by design).
  • #15
  • Sep 21, 2017 2:16pm Sep 21, 2017 2:16pm
Quoting Nicholishen
{quote} Yep... somehow it compiled without the bmp images. This should do the trick. *click for gif {image} {file}
Absolutely amazing! Thank you
"Men Who Can Both Be Right & Sit Tight Are Uncommon" ~ Jesse Livermore
  • #16
  • Sep 21, 2017 2:42pm Sep 21, 2017 2:42pm
Quoting Nicholishen
{quote} Double click the line so that it is selected and then drag to new location. Be careful to only double click because triple clicking will result in a reset (by design).
That did it. Thanks. Is there a way to change the default line colours? The yellow open line is barely visible on my background.
  • #17
  • Nov 19, 2020 11:08pm Nov 19, 2020 11:08pm
thanks Nicholishen this indicator is very helpful.
  • #18
  • Last Post: Feb 8, 2023 12:43pm Feb 8, 2023 12:43pm
Hi,
Just recently picked this up and wondering if this ever progressed to it being able to place the trade as well?

Great piece of kit.
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